A solid proof of the government’s unparalleled investment strategy has finally started to pick up steam because of the “‘Build, Build, Build” program.
According to Finance Secretary Carlos Dominguez III, the Gross Domestic Product (GDP) this second quarter of the year has expanded to 6.5 percent with the strategy.
It is expected to steer the Philippine economy towards a growth path of 6.5 to 7.5 percent for 2017.
Secretary Dominguez specified his hope for the Senate to help the government meet this high growth target by passing the comprehensive tax reform package soon enough in its full version, which would help spell the financial sustainability of its accelerated spending on infrastructure, as well as on human capital formation and social protection for the poor, and other vulnerable sectors.
“This is solid proof that the year-old Administration has been making the right moves at the right time in pursuit of President Duterte’s socioeconomic agenda on high—and inclusive—growth,” said Dominguez in response to the Philippines Statistics Authority (PSA)’s announcement today (Aug. 17) that the GDP grew by 6.5 percent over the April-June 2017 period.
PSA also stated that this year’s quarter growth is slightly up from the 6.4 percent expansion of the first quarter.
“With the upturn in state spending beginning in the year’s second quarter, President Duterte’s unparalleled investment strategy anchored on the ‘Build, Build, Build’ program has started to pick up steam,” said Dominguez, indicating his hopes that the government could well meet the 6.5 to 7.5 percent target this 2017 and a higher 7 to 8 percent in 2018. | (Tina Joyce Laceda – PTV)
